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Israel Stocks: Cellcom, Bezeq, Partner, Elbit Medical, Hot

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May 28 (Bloomberg) -- Israel’s TA-25 index advanced the most since May 16, rising 0.9 percent to 1,060.04 at the 4:30 p.m. close in Tel Aviv. Investors traded about 722 million shekels ($187 million) of shares and convertible securities, according to bourse data.

The following stocks rose or fell today. Symbols are in parentheses.

Azrieli Group Ltd. (AZRG IT) advanced 1.8 percent, the most since April 16, to 89.54 shekels. The property investment company said first-quarter net income climbed to 184.4 million shekels from 162.3 million shekels a year earlier.

Bezeq Israeli Telecommunication Corp. (BEZQ IT), the country’s largest fixed-line provider, advanced 6.1 percent, the most since April 17, to 4.50 shekels. “The prices of cellular companies are correcting” after “drops of between 20 to 40 percent in the last month,” said Ori Licht , the head of research at I.B.I.-Israel Brokerage & Investments Ltd.. “At these levels the share prices reflect a very pessimistic scenario.”

Cellcom Israel Ltd. (CEL IT), the country’s largest mobile-phone provider, advanced 1.7 percent to 29.30 shekels, the most since April 29. Partner Communications Co. (PTNR IT), Israel’s second-largest mobile-phone provider, rose 3.6 percent, the most since March 14, to 17.82 shekels. Hot Telecommunication System Ltd. (HOT IT), a fixed-line and mobile-phone operator, gained 7.4 percent to 32.21 shekels.

Elbit Medical Technologies Ltd. (EMTC IT) surged 13 percent, the biggest gain since Oct. 26, to 0.181 shekel. The company with stakes in medical-device manufacturers said GE Healthcare Inc. signed an initial deal to invest $27.5 million in a unit.

Redhill Biopharma Ltd. (RDHL IT) surged 17.5 percent, the most since April 17, to 2.707 shekels. The pharmaceutical company said a pivotal clinical trial of its migraine drug was successful.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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